Daily Archives: January 31, 2016

Held We would like to once again emphasise that as and when an application is filed before a Passport authority and there appears to be a conflict between entries in the birth certificate issued by the Registrar of Births and Deaths and the entry of birth in a school leaving certificate, the entry in the… Read More »

What are the categories of Criminal offences ? Criminal offences are classified into two categories depending on the degree of seriousness / cognizance i.e. cognizable and non-cognizable offence. What is Cognizable Offence for filing First Information Report (FIR) ? A cognizable offence is one in which the police may arrest a person without warrant. They are… Read More »

Held As regards the interest referred to in the second limb of Rule 8D of the Rules, the assessee contends that the amounts of investment in such securities in the period under consideration is much less than the amount of capital and surplus funds available with the Company and no portion of the borrowed funds… Read More »

Held Although the assessee has neither paid nor paid interest to these financial institutions in respect of debentures. However, the liability was provided for, in its account for purpose of compliance of applicable accounting standards and mandatory requirements of Companies Act, 1956. It was, thus, clear no income had accrue to debenture holders, financial institutions.… Read More »

Held The interest on FDR, the Court has been shown a note of the balance sheet of the Assessee [which was placed before the AO] which clearly states that “fixed deposit receipts (including accrued interest) valuing Rs. 15,05,875 are under lien with Bank of India for facilitating the letter of credit and bank guarantee… Read More »

Held The assessee has entered into contract with these intermediaries for the work of hiring of transport for carriage of goods for the assessee for which payments are made by the assessee to these intermediaries who are not actual transporters but are arranging actual transporters independently from open market for carriage of goods for assessee… Read More »

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